Daily Report - 24 Jan 2017

End of Day Technical Analysis Report for:


► EUR/USD: a small retracement today but our view remains that this market is likely to reach 1.0820 in the next few sessions. If and when 1.0820 is reached expect the market to pause and retrace.
Technical Recommendation: Stay Long
                                                                 EURUSD - Daily
                                                                 EURUSD - Weekly

GBP/USD: an inside pin bar today suggests Sterling's short term bounce is likely to continue tomorrow. We expect the 23.6 Fib level around 1.2700 to be reached and for the market to pause there.
Technical Recommendation: Look for market to reach 1.2700
                                                                 GBPUSD - Daily
                                                                 GBPUSD - Weekly
                                                   Back to Top

► AUD/USD: market still likely re-test of 0.7730 resistance level but seems to be struggling a little here so we may see a short term pull back which should be used as a buying opportunity for those who are not Long already.
Technical Recommendation: Look for a retracement and then a push to 0.7730.
                                                                 AUDUSD - Daily
                                                                 AUDUSD - Weekly
                           Back to Top

► USDJPY: we still believe this correction has further to go, likely to reach the 38.2 Fib at 111.30, so today's bullish daily bar might provide a selling opportunity intraday tomorrow for anyone who is not Short already.
Technical Recommendation: Should be Short.
                                                                  USDJPY - Daily
                                                                 USDJPY - Weekly

GOLD: a slight pull back today but price still likely to test the 50 Fib level at 1230 and possibly 1240 above that where we would expect a pause.
Technical Recommendation: Look for market to reach 1230-1240 area.
                                                                 XAUUSD - Daily
                                                                XAUUSD - Weekly


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